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 Company CarsHi all, slowly coming round to the

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T O P I C    R E V I E W
Longman Posted - 19 February 2009 : 20:51:20
Company Cars

Hi all, slowly coming round to the thought of BR now. Although currently unemployed, my next job is likely to come with a car allowance of c£5k. Will this be deemed excessive, even though described in my contract as car allowance? I am also likely to lose 40% of this in income tax, can I make extra claims for car insurance, tax, diesel etc...?

many thanks
1   L A T E S T    R E P L I E S    (Newest First)
Reviva UK Posted - 19 February 2009 : 21:20:16
Hi

The car allowance - after tax - should be exempt from an IPA calculation as it is in lieu of a company car. Most companies will insist on the car being X years old etc etc etc.

you may receive fuel as expenses but no doubt the car allowance is to include an element for maintenance, tax insurance etc as well

Paul Johns
Assisted Bankruptcy Specialists
Reviva UK
http://www.revivauk.com

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